Tex. Business Organizations Code § 153.309
This is the official text of Tex. Business Organizations Code § 153.309, part of Texas’s Business Organizations Code — governs the formation and operation of corporations, LLCs, and partnerships.
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§ 153.309. EFFECT OF FORFEITURE OF RIGHT TO TRANSACT BUSINESS.
Official statutory text
(a) Unless the right of the limited partnership to transact business is revived in accordance with Section 153.310:
(1) the limited partnership may not maintain an action, suit, or proceeding in a court of this state; and
(2) a successor or assignee of the limited partnership may not maintain an action, suit, or proceeding in a court of this state on a right, claim, or demand arising from the transaction of business by the limited partnership in this state.
(b) The forfeiture of the right to transact business in this state does not:
(1) impair the validity of a contract or act of the limited partnership; or
(2) prevent the limited partnership from defending an action, suit, or proceeding in a court of this state.
(c) This section and Sections 153.307 and 153.308 do not affect the liability of a limited partner.
(1) the limited partnership may not maintain an action, suit, or proceeding in a court of this state; and
(2) a successor or assignee of the limited partnership may not maintain an action, suit, or proceeding in a court of this state on a right, claim, or demand arising from the transaction of business by the limited partnership in this state.
(b) The forfeiture of the right to transact business in this state does not:
(1) impair the validity of a contract or act of the limited partnership; or
(2) prevent the limited partnership from defending an action, suit, or proceeding in a court of this state.
(c) This section and Sections 153.307 and 153.308 do not affect the liability of a limited partner.
Status: in_force · Read it on the official government site
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